Northern Trust (NASDAQ:NTRS) Sets New 1-Year High Following Analyst Upgrade

Northern Trust Corporation (NASDAQ:NTRS) reached a new 52-week high during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $170.00 to $179.50. JPMorgan Chase & Co. currently has a neutral rating on the stock. Northern Trust traded as high as $179.38 and last traded at $179.4730, with a volume of 16741 shares trading hands. The stock had previously closed at $176.50.

A number of other equities analysts also recently issued reports on NTRS. Royal Bank Of Canada raised their price objective on shares of Northern Trust from $159.00 to $178.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Wells Fargo & Company lifted their price target on shares of Northern Trust from $175.00 to $189.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 24th. Truist Financial boosted their price objective on shares of Northern Trust from $176.00 to $186.00 and gave the company a “hold” rating in a research report on Friday, June 26th. Zacks Research upgraded Northern Trust from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 12th. Finally, UBS Group set a $186.00 price objective on Northern Trust in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $171.42.

Insider Activity

In other news, Director Robert Edward Jr. Moritz bought 225 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were bought at an average price of $166.41 per share, for a total transaction of $37,442.25. Following the purchase, the director owned 8,145 shares in the company, valued at $1,355,409.45. This represents a 2.84% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Clive Bellows sold 2,800 shares of the company’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $165.02, for a total transaction of $462,056.00. Following the completion of the transaction, the insider directly owned 28,217 shares of the company’s stock, valued at $4,656,369.34. This represents a 9.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,800 shares of company stock worth $3,785,251 in the last three months. Company insiders own 0.66% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Triumph Capital Management purchased a new stake in Northern Trust during the 3rd quarter valued at approximately $25,000. Reflection Asset Management purchased a new position in Northern Trust during the fourth quarter valued at $25,000. Board of the Pension Protection Fund purchased a new position in Northern Trust during the fourth quarter valued at $27,000. Basecamp Wealth Advisors LLC increased its holdings in Northern Trust by 99.0% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 203 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 101 shares during the last quarter. Finally, Elyxium Wealth LLC purchased a new stake in Northern Trust in the 4th quarter worth $34,000. 83.19% of the stock is currently owned by institutional investors.

Northern Trust Stock Performance

The firm’s 50 day simple moving average is $168.93 and its 200 day simple moving average is $153.33. The firm has a market cap of $33.22 billion, a PE ratio of 18.81, a PEG ratio of 1.20 and a beta of 1.25. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.51.

Northern Trust (NASDAQ:NTRS) last issued its quarterly earnings data on Tuesday, April 21st. The asset manager reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.34. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.13 billion. Northern Trust had a return on equity of 15.94% and a net margin of 12.84%.The business’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 earnings per share. On average, research analysts forecast that Northern Trust Corporation will post 11.21 EPS for the current fiscal year.

Northern Trust Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Friday, June 5th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 1.8%. The ex-dividend date was Friday, June 5th. Northern Trust’s dividend payout ratio (DPR) is currently 33.51%.

Northern Trust Company Profile

Northern Trust Corporation (NASDAQ: NTRS) is a global financial services firm headquartered in Chicago that provides asset servicing, asset management and wealth management solutions to institutions, corporations and high-net-worth individuals. The company’s core businesses include custody and fund administration, investment operations outsourcing, trust and fiduciary services, private banking, and retirement and defined contribution plan services.

Northern Trust’s product and service offerings span custody and fund accounting, portfolio and performance analytics, securities lending, cash management and foreign exchange, as well as discretionary and non-discretionary investment management.